Rim Semiconductor Company (fka RSMI)

[spokeshave]

halston: I believe this is what you are referring to:

We have raised substantial amounts of capital in private placements from time to time. The securities offered in such private placements were not registered with the SEC or any state agency in reliance upon exemptions from such registration requirements. Such exemptions are highly technical in nature and if we inadvertently failed to comply with the requirements of any of such exemptive provisions, investors would have the right to rescind their purchase of our securities or sue for damages. If one or more investors were to successfully seek such rescission or institute any such suit, we could face severe financial demands that could materially and adversely affect our financial position.

It's in the SB-2 in the "RISK FACTORS" section, bottom of page 11.

I remember reading that and thinking that it was a very odd thing to include in risk factors. I think it is one more example of life being very hard for NVEI simply because they have not made good on any commitments.